The company reported standalone net profit of Rs 0.18 crore for the quarter ended December 31, 2023 as compared to Rs 0.63 crore in the same period last year, registering a year-on-year decline of 71.43 per cent.

Net revenue of the company declined substantially by 36.66 per cent at Rs 20.99 crore in October-December quarter of this fiscal as against Rs 33.14 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 37.06 per cent to Rs 20.52 crore from Rs 32.60 crore in year ago period.

Other Income grew by 66.67 per cent at Rs 0.10 crore versus (Dec'22 Rs 0.06 crore).

Operating Profit slipped by 11.11 per cent to Rs 0.48 crore as against Rs 0.54 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 38.41 per cent in December quarter.

Interest declined by 19.05 per cent y-o-y to Rs 0.17 crore, while Taxation increased by 136.67 per cent at Rs 0.11 crore (Dec'22 Rs -0.30 crore).